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Do any one know how to maintain international trade? Do I need international banking for my funds overseas?
May 24th, 2009
Business import and export items for retailers and other wholesalers. Need to know if internaional banking and accounting is needed. If so who is more affordable.
your question is not very clear but i will try and respond. If you are importing products then you can either buy on terms documents thru bank with credit terms( ususally 30 to 90 days ) or alternatively by Letter of Credit drawn thru your bank on the supplier. Ensure you do not open a IR L/C as sometimes material could be deffective and the only way you can get back monies is to stop your L/C. Check with your banker about types of L/C
May 25th, 2009
your question is not very clear but i will try and respond. If you are importing products then you can either buy on terms documents thru bank with credit terms( ususally 30 to 90 days ) or alternatively by Letter of Credit drawn thru your bank on the supplier. Ensure you do not open a IR L/C as sometimes material could be deffective and the only way you can get back monies is to stop your L/C. Check with your banker about types of L/C
References :
I used to import auto components from Asia